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and -- >> the constitution of the united states of america. >> undermining the rule of law. >> this is the law. this is the law of the land that was passed in a democratic process. >> what the president has done is not in this law. the president does not have -- >> what is this? >> the article 2, section 3 of the constitution says the president will faithfully implement the law, not change the deadlines for the law or pick and choose which parts of the law he executes. and that is what this president -- >> that's a big discussion. >> that is a big discussion for another -- a separate discussion for another night. >> very bad for business. thank you so much, as well, a real pleasure. >> my pleasure. >> a new study says about half the people who right now pay for their own health insurance will qualify for federal tax credits under obama care. the rest of the people will likely have to pay more than they are already. remember what mitt romney said? >> 47% of the people who vote for the president no matter what, there are 47% who are with him, who are dependent upon him, who believes they're vict
up those credit cards, spouting e epiphanies, like pay your bills on time. everybody in america knows, and yet there are people who will tell you just that and assume it's enough to help you get ahead. maybe they even charge for it. i say it's not basic financial responsibility, it is just a jumping off point. i'm the guy who tells you where to go from there because i didn't make a career out of giving people money advice. i made a career out of using money to make even more money. so having the perspective of a money manage like me should you go about making money for retirement? you don't pay taxes on the money you contribute, and you don't pay any taxes on the gains inside allowing them for years after years of tax-free computing. -- compounding. in other words, all that stuff you know. i mean, everybody -- almost every person on the street knows that. how about advice on what you should not do with your 401(k)? anyone giving you that? the conventional wisdom says you should put money in it but then it leaves you on your own at the beginning of a complex if not nightmarish process.
better company - and to keep our commitments. and we've made a big commitment to america. bp supports nearly 250,000 jobs here. through all of our energy operations, we invest more in the u.s. than any other place in the world. in fact, we've invested over $55 billion here in the last five years - making bp america's largest energy investor. our commitment has never been stronger. we replaced people with a machine.r, what? customers didn't like it. so why do banks do it? hello? hello?! if your bank doesn't let you talk to a real person 24/7, you need an ally. hello? ally bank. your money needs an ally. because what you dont know can hurt you.urance, what if you didn't know that it's smart to replace washing-machine hoses every five years? what if you didn't know that you might need extra coverage for more expensive items? and what if you didn't know that teen drivers are four times more likely to get into an accident? 'sup the more you know, the better you can plan for what's ahead. talk to farmers and get smarter about your insurance. ♪ we are farmers bum - pa - dum, bum - bum - bu
is known to frequent a restaurant or two across america. and when he does, business more than doubles for those eateries. he's adam richman, the star of "fandemonium" and many know him as the host and combatant of "man versus food." adam joins the ranking of the reality roster making differences in the small business community across america. good to see you, adam. thank you for joining us. >> thank you, maria. >> you've changed the course of many restaurants across america. what's the biggest challenge facing restaurants today? >> you know, i think that a lot of the restaurant market is just glutted. there's so very many restaurants, so many restaurant concepts, everyone is trying to, you know, be part of the next trend and the next phase. and it really seems to be that the ones that succeed are the ones that don't really go with the trend. they sort of do a few things really well, and they do those for perpetuity. i also think that, you know, now we have people ordering in more, applications like seamless is making that even more easy. so people aren't frequenting brick-and-mortar r
exposure to europe, china, latin america. you know i think europe and china are turning, one of the reasons why the euro is so strong for europe term. as for latin america, bud's business has been held back by the weakness in brazil. i know brazil's troubled, but i don't think that weakness is going to last. the world cup comes to brazil in 2014 followed by the olympics in 2016. i think you're going to believe those are going to be pretty darn good for beer sales. bud sells for 17.4 times next year's earnings estimates, gets fair priced considering all the good things going this company's way. although, of course, obviously like everybody else, like it on a pullback. here's one. this is what the crowd drinks in summit, molson coors, tap, i see it similar to bud but with less international exposure and a stock run up further. specifically 18% year-to-date. that's why i'm saying that bud has more room to run because it's well behind this one. and certainly well behind this one, although, this one is an up and comer. suppose you want something stronger than beer, though, then the pick is very
commitments. and we've made a big commitment to america. bp supports nearly 250,000 jobs here. through all of our energy operations, we invest more in the u.s. than any other place in the world. in fact, we've invested over $55 billion here in the last five years - making bp america's largest energy investor. our commitment has never been stronger. (announcer) at scottrade, our clients trade and invest exactly how they want. with scottrade's online banking, i get one view of my bank and brokerage accounts with one login... to easily move my money when i need to. plus, when i call my local scottrade office, i can talk to someone who knows how i trade. because i don't trade like everybody. i trade like me. i'm with scottrade. (announcer) scottrade. awarded five-stars from smartmoney magazine. >>> last night, as part of our cookout series, i mentioned a major trend that's sweeping not just the nation but the entire globe. it's the rise of the craft beer. a home grown industry that's taking the rest of the world by storm. maybe you're like me and when you think of craft beer your mind goes alo
in our nations capital under the shadow of the great emancipator to awaken america's long slumber conscience. we rightly and best remember dr. king's soaring oratory that day. how he gave mighty voice to the quiet hopes of millions, how he offered a salvation path for oppressed and oppressors alike. his words belong to the ages. possessing a power and prophecy unmatched in our time. but we would do well to recall that day itself also belonged to those ordinary people whose names never appeared in the history books. never got on tv. many have gone to segregated schools and sat at segregated lunch counters. they lived in towns where they couldn't vote and cities where their votes didn't matter. there were couples in love who couldn't marry. soldiers who fought for freedom abroad that they found denied to them at home. they had seen loved ones beaten. and children fire hosed. and they had every reason to lash out in anger or resign themselves to a bitter fate. and yet they chose a different path. in the face of hatred they prayed for their tormentors. in the face of violence they sto
anniversary of the "i have a dream" speech, we look at the economic achievements for blacks in america. all those stories an more coming up on "the kudlow report" beginning right now. good evening, everyone. this is "the kudlow report." in a rapidly developing story, u.s. officials telling nbc news tonight that the syria crisis is, quote, past the point of no return. and that air strikes are expected soon to punish the syrian regime. nbc's richard engel joins us from the turkey/syria border with the latest details. good evening, richard. >> reporter: larry, the longer this goes on, the more difficult it is for the united states to carry out any action, let alone a decisive action. the u.n. inspectors were back at their work, visiting sites where the worst of these alleged chemical attacks took place. they took hair, urine, blood samples. they want to continue their work. the man dade for these u.n. inspectors to be on the ground is supposed to expire on sunday s. but now the syrian government is asking them to stay longer. it's unclear if the u.n. inspectors are going to stay beyond that, b
to the credibility and the future interests of the united states of america and our allies. it matters because a lot of other countries whose policies challenge these international norms are watching. they are watching. they want to see whether the united states and our friends mean what we say. it is directly related to our credibility and whether countries still believe the united states, when it says something. they are watching to see if syria can get away with it because then maybe they, too, can put the world at greater risk. and make no mistake, in an increasingly complex world of sectarian and religious extremist violence what, we choose to do or not do matters in real ways to our own security. some cite the risk of doing things, but we need to ask what is the risk of doing nothing? it matters because if we choose to live in a world where a thug and a murder er like bashar assd can gas thousands of his own people with impunity, even after the united states and our allies said no and then the world does nothing about it, there will be no end to the tested of our resolve and the dangers that w
. heather hughs back with us from sun america funds. rebecca paterson. leo kelly. and our own rick santelli. leo kelly, earlier as we were closing, i reported that sources saying that there is another massive multibillion dollar etf going on on the street today. they are selling treasuries to buy mid cap etf equities. that's one of the reasons we saw the move-in rates. what's your take of selling treasuries to buy mid cap equities? >> if you're a long term investor and long-term player, treasuries are a difficult play. the interest rates are going to go higher. if you look at the fed, they are still in crisis mode. it still amazes me. we have 0% interest rates and we are still buying billions of dollars of asset backed mortgages like we're still in crisis when in fact the economy is recovering. it is not recovering fast but it is recovering. so i think bonds long-term -- >> are you recommending treasuries or equities? >> no. we are not recommending treasuries. we are still bearish on long-term treasury possess. we like equities in long-term but you have to just stay disciplined here and not
around the world i want to make clear once again that america is not interested in spying on ordinary people. our intelligence is focused above all on finding the information that's necessary to protect our people and in many cases protect our allies. it's true, we have a significant capability. what's also true is we show a restraint that many governments around the world don't even think to do. refuse to show. >> reporter: president obama said he had already on his own accord thought about asking for changes in the nsa, looking into the process, but he admit, larry, that edward snowden accelerates the process. >> yeah, that's the key points. he thought about it. i'm sure. i think about a lot of important things, steve handelsman, and so do you. it was only in recent months where president obama was defending all these surveillance programs lock, stock and barrel. seriously. against criticism from his own party and from even many in the republican party. what changed his mind? friday afternoon, august, humid weather all of a sudden he comes out with this. what's your take? >> reporte
to be an even better company - and to keep our commitments. and we've made a big commitment to america. bp supports nearly 250,000 jobs here. through all of our energy operations, we invest more in the u.s. than any other place in the world. in fact, we've invested over $55 billion here in the last five years - making bp america's largest energy investor. our commitment has never been stronger. every day we're working to and to keep our commitments. and we've made a big commitment to america. bp supports nearly 250,000 jobs here. through all of our energy operations, we invest more in the u.s. than any other place in the world. in fact, we've invested over $55 billion here in the last five years - making bp america's largest energy investor. our commitment has never been stronger. >>> things are heating up on "mad money." all week, i'm looking at this market's hottest trends. it's in our cookout series. and tonight we're going 100% organic. regular viewers know i've been a huge backer of the organic food theme for years now. organic food is a $63 billion industry worldwide growing at 9.5%
commitment to america. bp supports nearly 250,000 jobs here. through all of our energy operations, we invest more in the u.s. than any other place in the world. in fact, we've invested over $55 billion here in the last five years - making bp america's largest energy investor. our commitment has never been stronger. if you're like me, you've been working you've been working like a dog all year. but you don't need to camp out 'til labor day to reward yourself! mattress discounters' labor day sale is ending soon! rest those tired bones on a queen size sealy gel memory foam mattress! for just $497! get 48 months interest-free financing on the entire tempur-pedic cloud collection. but this sale ends soon! ♪ mattress discounters! >>> in this environment, what do we do with a big diversified worldwide industrial play like eaton. manufactures everything from electrical control products to hydraulics, truck transmissions. last year eaton bought cooper industries doubling down which is a big reason i own the stock for my charitable trust. here's the thing, though, despite being a fabulously run comp
this week everybody is off. that's the way it is in america. executives, pr executives are also gone. >> i totally disagree. >> reporter: i expect you would. i'm throwing this out there. >> they didn't have a phone? >> the pr executive is not on vacation on mars. he has a cell phone. let's be clear. we shouldn't be surprised about this because based on the nasdaq's response to the flash crash, the nasdaq's response to facebook, this is par for the course. >> reporter: i agree. but what i'm saying is what we've learned, again, in second oddly worded statement is effectively this, it wasn't the nasdaq. it was a third-party participant with some weird connectivity issue, apparently. so i'm only pushing back a little bit not because i'm standing here. nobody is here. nobody will throw me out. it would take two twice to do it anyway. it's a third-party maybe they didn't know. >> tom, founder of staples talked to me tonight on a differentict but we went through this a little bit. he used to be a board member. a very big supporter of greifeld. he said he didn't know. and the reason there's no sta
hoveround america travel mug free with your hoveround delivery. [singing] hoveround takes me where i wanna go. call or log on to to find out where a hoveround can take you! brown: on my third day as principal, i met with the state. students had fallen behind, and morale was low. my first job was getting everyone to believe... that we could turn this around. i needed my staff to see what was possible. turning around a school, is not some, mystical, magical thing. it does take hard, dedicated work each day. i was a chemistry major in college, and then... i joined teach for america. that's the reason i'm here. >>> we're talking about a subject we don't spend enough time on in the business media or here, which is long-term wealth building. long-term not tomorrow, not the trade, the church of what's happening now. if you're serious about getting rich and staying that way, then i recommend you absolutely must do two things. first, go to amazon, local bookstore and buy the entire jim cramer catalog right here. i've gotten that crass shameless piece of self-promotion out of the way.
lack of doing anything other than lob a couple of cruz missiles down range. they'll worry about america's commitment to the middle east will say this is the best they can do? so i'm a bit confused, like all of us are, about what the administration is trying to do. >> yeah. syria, if this is the best punch they can throw, i'm sure syria can take it. just my thought. i expressed this last night. i'm no military expert, lord knows. if we're going to bomb, why don't we take out the government palaces, the government office buildings, military barracks, various military hears. why don't we make it plain that we're going in to take out the chemical weapons. apparently we have weapons that can do that. maybe the army in syria will get so darn angry that they'll take assad, put him in jail or even worse, assassinate him. do you see what i'm saying in why aren't we hitting everything along the way instead of making light of this? why don't we hit tremendous shocks and punches rather than weany jabs? >> that was the point i was making in my column today. we should be striking the symbols, the phy
.5 million this quarter. almost 50% of our business in north america is mobile. we're focused on migrating from being a daily deal e-mail business to being a true e-commerce marketplace where we now have over 54,000 deals live every day in north america. and we're focused on taking what's working in north america where we saw 23% growth in q1 accelerate to 30% in q2. and really give that to the rest of the world. we're by no means done. we've got a long way to go. >> now, you're alluding to the fact that though you have seen significant growth in the u.s., there is still significant weakness internationally. what's your plan to get the rest of the world on track? >> i mean, we saw some good improvement this quarter. europe shrank 8% year over year in q1. and that accelerated to 4% growth in q2. so that's pretty significant growth. we're now focused on taking the stuff that works. we know when we bring more deals to the market it has a huge effect. when we can get consumers to basically start with groupon when they want to buy anything anywhere, any time, we know that has a huge impact. and
lows. >>> and shares of kpn plunge after carlos slim and america movil says it could drop the bid for the telecom group following a dutch foundation's move to block the takeover. >>> zurich insurance says it is looking into whether undue pressure was put on its late cfo before his death. also confirming the presence of a suicide note that mentions joseph ackermann. >>> hello, welcome to the last "worldwide exchange" of the week. plenty to get through, though, on today's program. l'oreal jumped. is the world's biggest cosmeticmaker putting on the final touches to buy a stake of nestle. >>> hamburg is one of the world's busiest ports. we'll be in hamburg to discuss at 10:35 cet. david cameron says he won't override the british parliament of syria, we'll speak to a former u.s. ambassador of saudi arabia to get his take on the latest developments. robert jordan at 10:30 cet. while politician disease bait military strikes on syria, won atack push oil prices to record highs as prices are steady after midweek surge. more on than in an hour and a half. august comes to a close, we'll look
to be with you. white castle, the taste america craves. >> yeah. is that your -- >> okay. >> is that your saying? >> off to a good start. >> a good start here. let's talk about the healthcare legislation. what prompted you to say that current full-time workers would stay full time, but the new hires will only be part time, or may only be part time? >> for us, it's about great business, great food, and responsible citizenship. and it means we need to share our views. when we look at the law in the current form, definition of full time, arbitrarily picked to be 30 hours a week, doesn't fit with the business model restaurants have used around the country for decades. it forces us to be in a position where our healthcare costs will increase 35% if we don't make changes. >> you know, i will say i read over your plan. you're very generous in terms of the healthcare coverage and the pension plan that you offer. i mean, you're very much an anomaly in the fast-food industry. >> you know, bill, we've offered a health insurance plan since 1924, and our founder believed in providing freedom from anxiety. an
products two years ago. now we're the largest exporter in the world. in fact, bank of america and merrill lynch estimates this u.s. exports doubled from the end of 2007 until the end of last year. the major reason is diesel fuel. a strong demand for that product especially in emerging markets. the u.s. exported about 1 million barrels a day of diesel fuel last week, roughly the same we've seen the previous few weeks but up from 840,000 earlier this summer, and the reason for this is that diesel margins are higher than gas margins. as of the mid-year, margins on gulf coast produced diesel were running just above $16 for barrel while for finished gasoline they were just under $8 a barrel. that's roughly double, according to valero. many refiners have done simple things to change their product mix, shell, marathon petroleum and also valero expanding their export terminals ald of and noting that the gulf coast refiners are benefitting from this trend over the east coast refiners. the shipping costs are preventing the east coast refiners from tapping into the domestic oil supplies which is che
-making colleges in america don't pay any taxes? that's right. they're tax-exempt. even while tuitions are skyrocketing. but the call to change all that is getting louder and louder. all those stories and much more coming up in "the kudlow report," beginning right now. >>> first up tonight, a strong selloff overseas as markets around the world took the brunt of fed taper fears. but less than 24 hours until the latest fed minutes are released, will investors hear more guidance from the fed? good evening, robert. >> hi, larry. the markets moved sideways today as interest rates were lower and emerging markets were not quite as volatile. one point about all this panic on emerging markets, it's true the smaller markets like indonesia and thailand are getting hit as money has been coming out of them, but china bottomed out two months ago, and it bottomed, larry, at a four-year low. international traders looking for some value have seen that china's economic news has been better recently and some have been looking there for a trade. here in the united states, home depot had a terrific earning
call minds in america is set to join us tonight. we're going to ask larry sabato about what's wrong with the deck kratz today. hillary clinton's presidential chnss and get a look at the big new online course and all about the legacy of john f. kennedy. all of those stories and more coming up on "the kudlow report" coming up right now. >>> good evening, everyone. i'm larry kudlow. this is "the kudlow report." the federal reserve minutes. did they tell us anything? steve liesman joins us in jackson hole. >> good evening, larry, from jackson hole where the fed is gathering. they're gathering without ben bernanke and mario draghi. the fed is releasing its minutes from the july meeting in which it showed no clear intention as to the tapering in september. the committee is split with a few members saying the fed should be patient before tapering. there was not enough economic data and a few members saying the fed should stick to the plan announced in june. quote, it might soon be time to taper. almost all of the participants were pretty comfortable with the june guidance which said that t
. and we've made a big commitment to america. bp supports nearly 250,000 jobs here. through all of our energy operations, we invest more in the u.s. than any other place in the world. in fact, we've invested over $55 billion here in the last five years - making bp america's largest energy investor. our commitment has never been stronger. >>> in some parts of the u.s., kids are already back to school. in other parts, the first dizz are right around the corner. can retailers count on their back-to-school sales to boost revenues? 30 of them reporting this week. joining us with the pulse of the consumer is joel oldein from at kerney. we had a terrible spout of earnings last week from a number of retailers. macy's missing for the first time in 25 quarters. walmart not looking good as well. what's going on with retailers, and as we look at this week, where we look for earnings from them, are we going to see a lot of bad news? >> it's interesting this year. we're coming off a record 2012 back-to-school season. so expectations were pretty high. a lot of positive indications when we look at emp
. >> this is america's number one financial news program "on the money." >> here is a look at what is making news. a disappointing job's report for the month of july. the economy created 162,000 new jobbing for the month. that was below the expected 183,000. but it fell to 7.4% as fewer people looked for jobs. job growth was revised downward was well. record setting weekend for the marks. kicking off the month of august with a bank hitting new highs on thursday after comments by the fed earlier in the weekend. the s&p 500 closed above 1700 for the first time ever. those commenting after the open market committee wrapped up a two-day meeting and announced it would continue buying bonds and mortgage backed securities to help keep interest rates low. the fed used the afraid modest growth rather than moderate growth. that was a light and subttle downgrade. the first reading was released this week and it came in stronger than expected. expectations had been for an increase of nine tenths of a percent. the biggest drag was government spending. consumer spending was relatively strong. here is some of th
with actor and investor ashton kutcher. "on the money" begins right now. >> announcer: this is america's number one financial program. "on the money", now maria bar tir romo. >> here's what's making the news. president obama is pitching housing reform in phoenix. mr. obama called the winding down the government sponsored fannie mae and freddie mac which hold most of the mortgages in the united states. he called for a public role and increase in the public market. >> for too long those companies were allowed to make huge profits buying mortgages knowing that if their debts went bad, taxpayers would be left holding the bag. >> meanwhile, the markets broke a three-day slide on thursday catching their breath. it was the longest losing streak in more than a month. the market fell on friday. earnings season is winding down. disney beat analysts expectations. 21st century fox had its first earnings report since it was split from news corp. and it beat expectations as did aol and time warner. >>> a poor performance for small cars. half of the vehicles tested by the insurance institute for high
when you get a great number from china, great number from europe and america, the back drop is so compelling. i'm jim cramer and i will see you tomorrow! >>> record highs again for the dow. no taper from the fed. hold everything. tom's jobs report comes out. we will see if that changes anything. on capitol hill meanwhile, the obama care battle is raging. question -- should obama care opponents focus on defunding the plan or make work harder at getting the individual mandate repealed? senator ted cruz joins us exclusively to tell us about his strategy. >> and then russia spits in president obama's eye and gives asylum to nsa leaker edward snowden. next month's summit in russia still go on? can the white house let this happen without any response? all those stories and much more coming up on the "kudlow report" beginning right now. >> good evening, everyone. i'm larry kudlow. this is the "kudlow report." first up tonight, very strong start for stocks this month. the dow and s&p closing at record highs. by the way, it's the first time the s&p has closed above 1,700 points. with yeste
to be buying. the president of the americas jerry smith joins us exclusively. good to have you on the program. >> thank you. >> thank you for joining us. a good story you are selling more tablets and devices than pcs, right? >> we are proud of that. in the quarter, we had an outstanding quarter. it's a reflection of our strategy, we are now teleselling more phones than tablets. that's a part of our pc plus. we believe we are a device company now. >> i want to ask you about. that all the speculation out there is what is going to happen with blackberry. are you in a position to acquire blackberry in. >> i can't comment on possible acquisitions. i will say right now organically we grew our smartphone business successfully. we will look at potential value and if it fits from a strategy perspective as well. >> so let's look at the difference here him i have a black brry in my hand. can these two merge and be a better device? what do you think, jerry? >> we will keep looking at all opportunities. >> why wouldn't you buy blackberry in they're so popular? what would stop you, seriously in. >> i think
want to have more exposure to north america than we've had in a long time. so that's what we're going to do for quite a while. >> you called yesterday, what, the oversold story of the day. >> you came in -- you came in a little oversold with the market. you got the cursory bounce today. you know what i find interesting is that it's so logical that august and september should have all of the excuses to be weak because of all of the things we're talking about. political stuff, policy stuff, fed stuff, anticipation of a new fed chairman, that actually sentiment's cooled off quite a bit. you've had a few times this year when the market goes down 3%, 4%, people get nervous. that's a constructive thing. i'm not saying the period is over. it seems to me that nothing as much has really disrupted the uptrend just yet. >> and i would also say -- >> maria, i don't think you can underestimate the importance of this change in the trend of interest rates, this 100-basis point increase in mortgage costs so far this year has really changed the ability to buy, the ability to purchase in the housing ma
-mart manufacturing summit. we will talk about manufacturing when we talk with the ceo of wal-mart m america. let's check in with dominik chu on what happened today. when will we hear from the nasdaq. dom, walk us through what happened today. >> let's get up to speed on the latest update around 3:41 eastern time. nasdaq said all operations were back to normal. we head into the "closing bell" with things at least relatively stable. at least that's the initial impression. earlier today, let's get you up to speed on what happened. as early as 12 or even before noon today we started to hear stories of trading anomalies around 12:20 they started to shut done stocks for trading p. this is taped c securities, one thing you might read about in the papers, going forward into tomorrow. nasdaq listed security here in the u.s. there was a problem with the pricing engine. they weren't able to get good date why out on prices so it affected the entire market. none of those nasdaq listed securities could trade. later on in the afternoon, we heard the nasdaq was going to try to restart things. this time they are
t, we've invested over $55 billion here in the last five years - making bp america's largest energy investor. our commitment has never been stronger. >>> my mission is simple -- to make you money. i'm here to level the playing field for all investors. there's always a bull market somewhere. i promise to help you find it. "mad money" starts now. hey, i'm cramer. welcome to "mad money." welcome to cramerica. other people want to make friend, i'm trying to save you money. my job is to educate you, teach you, call me, 1-800-743-cnbc. come on, guys. get it together l will you? the markets are too important to have a backup plan an emergency plan when trading is halted, which is what happened today when the system flash froze. and the nasdaq simply stopped trading for three hours in the afternoon. >> boo! >> every night i tell you how the market closed. well, tonight, but this evening, i don't feel like sharing the numbers with f the nasda. dow rallied 66 points, s&p climbed 0.8% and the nasdaq advanced 1.8%, i think. i find what happened today profoundly disappointing. dishearteni
in the united states about the middle class. you know, we've got a middle america that we really need to develop, and that's where a lot of jobs like manufacturing and others can come into play that we're very involved in. but i also think, though, that america needs places for everyone to start. and sometimes the opportunity from the starting role on to grow and develop, i'm just extremely proud of the fact that 75% of u.s. management started with walmart as hourly associates. and this creation of opportunity, it's a great story of america, it's a great story of walmart. so whatever we do, we sure don't want to take away from the opportunity to get started, and the opportunity to grow and be a part of personal growth as well as the growth of our business and growth of america. >> lots of great stuff there. stick around. part two of maria's exclusive interview with mike duke is coming up. she asks him some pretty direct questions, especially about the company's bribery charges in mexico. >> are heads going to roll? is anybody going to get fired over this? >> oh. you'll have to wait to hear -- i
country, the united states of america, may be on the verge of becoming the world's low-cost manufacturer. heard it correctly. we'll find out whether longer term that's good for our quality of life and our economy. all of that is ahead. tyler is out this week. >>> we start with syria and where we stand. a senior u.s. official told cnbc, we are past the point of no return. an attack to begin within days. four guide missile destroyers as well submarines are maneuvering in the eastern mediterranean and loaded with tomahawk videos like this one in the file video. british propose a resolution at u.n. accusing syrian gov of carrying out chemical weapons attack. they complete their investigation this week in syria. u.n. secretary-general ban ki-moon said today u.n. inspectors in syria need an extra four days to complete their work. while all of that is happening, it's still very clear the war is still being fought very fiercely. this is video of syrian army tanks being hit by some sort of explosives. we presume, although we do not know, they were fired by the rebels. simon, down to you. >> it is
will also increase just a little bit, led by higher nonopec production, dropped stronger in north america expected to lift its second half total average of 1.4 million barrels a day. opec crude supplies edged down in july, global refinery crude demand surging in june. it is by 3.1 million barrels per day, highest monthly increase on record. ahead of the autumn maintenance. that's the latest iea report. nymex trading at 10404. jason joins us now. good to see you. the monthly increase on record in global refinery crude demand, 3.1 million barrels per day in june. where do we go now? >> well, essentially if we're looking at just one month number, you can get some distortions. essentially asia was going through the heaviest refinery maintenance period on record in may. that monthly surnl we're not concerned about. the numbers to rightly focus on are demand growth, which has been actually reasonably robust given the economic backdrop and supply growth out of the united states. we think that demand growth is going to be still reasonably robust and going to support prices that will move up into
parts of its steel americas unit. the troubled german steelmaker has been struggling to unload the unprofitable division. the company will now hang on to the brazilian steel mill, but will continue with the sale of its processing plant in alabama. thyssenkrupp is due to report earnings after the bell in europe today with pressure increasing on management to raise new capital to shore up the balance sheet. shares in thyssenkrupp today are falling by around 1.5%. >>> a warning over plunging wholesale power prices spooked investors in german utility giant e.on after earnings came in better than forecasts. annette joins us from frankfurt. good morning. >> i think personally that those investors have been spooked quite a bit if we look at the share price development. they had a ten-year low and that well explains why the shares are now up on that -- have to say little bit of better than expected earnings in terms of ebda and underlying that income came in a bit better than expected. the company said they're sticking to their guidance of 2,013, but apart from theat, there is not a lo
are not hurt by this, right? >> not expected to be, but here's what happened. bank of america suffered one of these outages, in the -- they had late fees and a lot of other fees that came in because they couldn't get to a bank branch. ultimately they will suspect this will be similar, just a flood of traffic. >> so traffic snarl that shuts down the highway, basically? >> absolutely not. >> they could siphon money out of these accounts, couldn't they? >> yes, it's embarrassing to have your website down for an hour, but it's potentially reputably damaging if your account is lost. >> kay larks thanks very much. >>> sue, down to you. >> we're talking about savings down here as well, ty. because if you've ever asked yourself, will my savings last when i retire, you're probably not alone. according to black rock, nearly 66% of americans are really terrified of losing that steady paycheck once they hit the age of 75. the other amount will not know how much they or their and fund which attacking the amount of income. in a "power lunch" exclusive, robert capido. >> you know, i was looking at all th
. earnings front, ralph lauren, time warner, and wendy's. one of the hottest restaurant stocks in america over the past year. we also have aol ceo tim armstrong 7:00 eastern time and after the bell look for groupon, mondelez, and the hotly watched tesla. also one not listed there, but one of my favorite economic surveys, the jolt survey. job opening and labor turnover. doesn't get as much attention as the adp, but i like to look at the people who leave their jobs voluntarily. if you quit your job, that means you have optimism you can find another job, generally, not in every case. i like to look at that. how many jobs are open and how many people feel confident enough in the economy and the job market that they can bail. >> there is an economist who looks at that and says that's one of the most important numbers they watch too. >> i've been banging the drum. i haven't gotten any traction. national effort to try to highlight -- >> i think you have a partner, i think that's one of the most important numbers too. it is a good number to watch. that's coming out at 10:00. >> corporate news thi
is russia needs america more than america needs russia. it's important to have good relations, but just as american leaders talk to counterparts in china, even though the chinese are actual spying on the americans and doing all kinds of other thing, the whole point about diplomacy is having tough conversations and that's what, at the moment, unfortunately, obama is not having. >> all right. thank you so much. we appreciate your time. we'll be watching the developments here. >>> we'll take a short break and then look at the we appreciate your time. we'll be watching the kechblths here. we'll take a short break and look at the markets for tomorrow. will the dow snap. market action back in a moment. . and at the center of it all is a surprisingly low price -- just $7.95. in fact, fidelity gives you lower trade commissions than schwab, td ameritrade, and etrade. i'm monica santiago of fidelity investments, and low fees and commissions are another reason serious investors are choosing fidelity. now get 200 free trades when you open an account. >>> lots of economic data to dye adjust tomorrow
. the financial times reporting also that bank of america was the only other bank to avoid a down day in the first quarter of the year. >> amc networks trades under amcx. that's the symbol. >> independent company. good for them. a little news on nelson peltz this morning. a july 31st investor letter, obtained by cnbc, shows that trian partners on shore funds return eed 11.8% year to date, that's up .4% in the second quarter. the fund says the second quarter performance was like a duck on the surface but paddling furiously underneath. also talks about how the firm completed a raise in june for an undisclosed investment, delivering alpha last month, we reported the trian took a stake in dupont. unclear if that's the same investment that they're referring to as sort of mystery investment. but our own manit hoja obtaining these letters from all the hedge funds. >> what is funny about the letters is they're all touting returns up 12%, up 13%. the dow is up 18%. the dow doesn't take 2 and 20. the dow can be had at the low cost index fund for 25 basis points. these guys are all -- most of them are under
around the world, i want to make clear once again that america is not interested in spying on ordinary people. our intelligence is focused, above all, on finding the information that's necessary to protect our people, and in many cases, protect our allies. it's true, we have significant capabilities. what's also true is we show a restraint that many governments around the world don't even think to do, refuse to show. that includes, by the way, some of america's most vocal critics. we shouldn't forget the difference between the ability of our government to collect information online under strict guidelines, and for narrow purposes, and the willingness of some other governments to throw their own citizens in prison for what they say online. and let me close with one additional thought. the men and women of our intelligence community work every single day to keep us safe, because they love this country and believe in our values. they're patriots. and i believe that those who have lawfully raised their voices on behalf of privacy and civil liberties are also patriots who love our country a
, jpmorgan, even bank of america. i think they're in that unique sweet spot where if the economy really gets hot, the stocks will do well. they always do. if we keep chugging along like this, i think the stocks can do well, because they're getting more and more efficient. they're focused on that. the risk is, do we have another collapse in the economy? i don't see that coming. so i would definitely stay with the money center banks, the large caps. as you move into some of the regionals and smallers, you know, they've had 50% runs over the last 18 month, really had an amazing run. i think it's less attractive there. i'll still constructive on the space. you know, second half of last year, i'd say sandler o'neil was bullish on banks and financials. right now, we're still bullish, but not maybe jumping up and down as much as we were. >> what about you, anton? you go to the big guys or the regions? >> i like the bar bell approach. i agree completely with jeff on the big guys. the small guys, i'm a stock picker, so looking for activity. looking for deals that add value. looking for smart companie
to america's global prowess and strategic influence. if we lose that influence the likelihood that the dollar will lose reserve status increases and gold is an insurance policy against that eventuality. >> got it. >> i would agree with both of those excellent points. i would add maybe some financial haven demand because i think people are starting to wonder about the recovery in earnings and the economy so there is just that traditional financial safe haven movement into gold. >> what do you tell people? you're an equity advisor. do you tell them a little bit of gold, some gold? everybody ought to have some? >> we have always been in the little bit of gold camp. i think having a 1% to 5% bullion allocation can add diversification to a portfolio. by the same token, gold is extremely volatile as we have all seen. we don't think it's something that really warrants a massive allocation like you would fixed income or equities but i think it can play a role and we do like it tactically given the carnage we have seen year to date. >> i have been very vocal late june, i was a screaming bull on gold.
each day. i was a chemistry major in college, and then... i joined teach for america. that's the reason i'm here. >> when to buy? when to sell? it's all about time. that's right, you could have the best stock picks in the world, it wouldn't mean a thing for your portfolio if you didn't have a sense of timing. i am a believer that non-professionals can manage the money just as well as the pros, sometimes better. that's why i come out to teach. you may have heard from the naysayers, intelligencia, it's possible to beat the market and outperform the benchmarks, that's like the s&p 500, as long as you know what you are doing and think like a disciplined investor rather than a gambler. if you are devoted and inclined to learn about stocks, my experience is that you will most likely beat many money managers and you will be able to take taxable gains and losses when they suit you, not the manager, a very important issue concerning the importance of taxes and long-term performance. right? a huge part of knowing what you are doing is having decent timing or knowing enough to make, not to make bo
. coming up, the former head of investment banking at lehman brothers, skip mcgee, now ceo for the americas barclays. we'll have his reaction to the federal reserve. >>> plus, ken is my special guest co-host for the hour. we'll talk housing, regulation, and what he thinks of today's activist investors. you're watching the "closing bell" on cnbc, first in business worldwide. 20 years with the company. thousands of presentations. and one hard earned partnership. it took a lot of work to get this far. so now i'm supposed to take a back seat when it comes to my investments? there's zero chance of that happening. avo: when you work with a schwab financial consultant, you'll get the guidance you need with the control you want. talk to us today. and then another. and another. and if you do it. and your friends do it. and their friends do it... soon we'll be walking our way to awareness, support and an end to alzheimer's disease. and that? that would be big. grab your friends and family and start a team today. register at >>> welcome back. a tough market day today, down 105. my special gues
of all the ones that i'm covering in america's secrets for why you're able to do that and to accelerate store growth? >> i'm proud we could do it quarter after quarter after quarter. our same store sales are up and we're building more and more restaurants every day. innovation, cost savings, drive the top line, run a better restaurant for the guest and remodel your restaurants so they look spectacular for the eating experience. >> when you model, you're picking up a bunch of percentages at comp stores so it's additive the money you put it in. >> absolutely. we see a lift in the restaurant when it remodels that's huge for the business and the customers are staying in the dining room longer and enjoying popeyes more. >> now, 40% go into 60% in terms of remodel. so therefore, you have a clear road map for next year too. >> absolutely. by the end of this year, 60% of the system will be remodeled and it will be close to 80% by the end of next year. we are excited about the transformation of our system. >> people don't think of innovation when it comes to food, but you're trying to do enterta
on that is that every athlete should get paid the same thing, maybe $200 a week. every school in america, $200 a week allowance, plus the free food, plus the free books. and then they are getting paid, and then we can eliminate the conversation of whether athletes should get paid. everybody, across the board, gets $200 a week, $800 a month. that's it. >> i mean, you know, part of the issue was this ed o'bannon suit where they felt like they were being taken advantage of by the companies putting their images on videogames and things, and they weren't being compensated for that. are college athletes being taken advantage of in what has become a huge business, and that would be college athletics? >> well, i mean, i wouldn't say they're being taken advantage of. it's a whole -- it's a whole athletics-economics thing we could always go through, we could always debate. you know, we bring in money. the fans pay money. you know, it's the whole thing that, you know, we could talk about for a long period of time. to eliminate the conversation about whether college athletes should get paid, every athlete in col
.s. secretary of state john kerry stating it is america's conclusion that syria used chemical weapons. >> and despite the excuses and equalify indications that some have manufactured, it is undeniable. president obama believes there must be accountable for those who would use the world's most heinous weapons against the world's most vulnerable people. nothing today is more serious and nothing is receiving more serious scrutiny. >> the pentagon tells nbc news, larry, that tonight five u.s. warships with cruise missile firing capability, four destroyers, one submarine are stationed in the mediterranean sea. the u.n. inspectors did get in the sites, but they get in so late, experts say, they may not be able to get the kind of residue tests needed to verify the use of chemical weapons, so the obama administration's move past that. it says it's happened. now comes the reaction. larry, back to you. >> many thanks, steve handlesman. we appreciate it. >>> it's virtually certain that u.s. military force will be used. the question -- what will the attack look like? second question, will it over
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